Could Madoff really have pulled it off alone?

‘As for Madoff’s particular case, the very idea that he acted alone utterly beggars belief. Ignore for the moment the role of feeder funds. At best, they were useful idiots who chose not to delve too deeply into Madoff’s practices lest true due diligence might disturb the flow of hundreds of millions of fees they collected. ‘We are supposed to believe that he acted without the knowledge of other members of his close-knit family, including those directly involved with the family business. They supposedly were all working in the legit side of the business, totally ignorant of the money-management business on the next floor. But they were ‘shocked, shocked!’ about the multi-billion-dollar scam, though they were able to continue to rake in millions for themselves while Madoff’s market-making business’ profitability had become marginal in recent years. ‘His wife, Ruth, who was inseparable from Bernie until his arrest in December, did not show up for Monday’s sentencing. Neither did his sons nor his brother, with whom Bernie has had no contact since the scandal broke. . . . But that helps her and the rest of the Madoffs maintain plausible deniability about their involvement in the fraud.’

‘Federal authorities are now scrutinizing those who worked in close proximity to Madoff at his firm, the person familiar with the probe said. The government doesn’t believe Madoff acted alone because, considering the scope of the fraud, the duration of his crimes and number of victims, he would have needed help, the person said.’